Soft landing? No landing? Wall Street still doesn't seem to be sure. Jefferies senior US economist Thomas Simons tells Yahoo Finance, "It's probably somewhere between soft and no landing. I don't think it really is cleanly characterized as either one, but it just suggests to me that we should be able to see continued growth."

Simons points to continued consumer strength as one of the reasons why the economy is still powering along, saying, "some longer-term signals that we noticed in some recent credit data that suggests that consumer isn't nearly as stretched as it looked," adding, "The consumer is still in very good shape, and I think that we'll see decent spending support growth in Q4 and into 2025 as well."

Watch the video above to hear what Simons has to say about how the election could impact consumer spending.

To watch more expert insights and analysis on the latest market action, check out more Catalysts here.

This post was written by Stephanie Mikulich.